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Johnson & Johnson (NYSE:JNJ) is one of the best stocks that will always grow.

Johnson & Johnson (NYSE:JNJ) announced on March 5 that the U.S. Food and Drug Administration (FDA) granted approval for TECVAYLI® plus DARZALEX FASPRO® for the treatment of adults with relapsed or refractory multiple myeloma who have received at least one prior line of therapy, including a proteasome inhibitor and an immunomodulatory agent.

Management reported that the approval offers a potential new standard of care as early as the second line, bringing a novel treatment approach for the 40% of patients with multiple myeloma who experience disease relapse. TECVAYLI® and DARZALEX FASPRO® work synergistically to prime and activate the immune system for the eradication of myeloma cells that express the BCMA protein.

In a separate development, JPMorgan lifted the price target on Johnson & Johnson (NYSE:JNJ) to $250 from $225 on March 5, maintaining a Neutral rating on the shares and citing its raised Tremfya estimates for the target boost. It told investors in a research note that the recent ramp of Tremfya in inflammatory bowel disease has driven outperformance for the product.

Johnson & Johnson (NYSE:JNJ) develops, manufactures, and sells products in the healthcare field. The company operates through two segments: Innovative Medicine and MedTech. The MedTech segment includes an elaborate range of medical devices and products used in cardiovascular intervention, orthopedics, interventional solutions, surgery, and vision fields.

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